Tower Research Capital LLC TRC Lowers Stock Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Tower Research Capital LLC TRC cut its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 62.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 522 shares of the technology company’s stock after selling 862 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Zillow Group were worth $37,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its stake in Zillow Group by 13.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock worth $84,000 after buying an additional 138 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after acquiring an additional 159 shares during the period. Blue Trust Inc. raised its position in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after acquiring an additional 172 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group during the 4th quarter worth $27,000. Finally, Baillie Gifford & Co. lifted its stake in shares of Zillow Group by 0.6% during the 4th quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company’s stock worth $6,520,000 after purchasing an additional 509 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Down 2.9%

ZG opened at $67.25 on Thursday. Zillow Group, Inc. has a 12-month low of $38.40 and a 12-month high of $86.58. The firm has a 50 day moving average of $66.06 and a two-hundred day moving average of $71.36. The firm has a market capitalization of $16.31 billion, a PE ratio of -143.09, a P/E/G ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZG. William Blair began coverage on Zillow Group in a research note on Monday, April 21st. They issued a “market perform” rating on the stock. DA Davidson lowered their price objective on Zillow Group from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. UBS Group reduced their target price on Zillow Group from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods raised Zillow Group to a “hold” rating in a report on Friday, March 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Zillow Group in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.80.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 5,997 shares of Zillow Group stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total transaction of $408,155.82. Following the completion of the transaction, the chief accounting officer now directly owns 58,320 shares in the company, valued at approximately $3,969,259.20. This trade represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Errol G. Samuelson sold 2,854 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the transaction, the insider now directly owns 142,636 shares of the company’s stock, valued at $10,460,924.24. The trade was a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,576 shares of company stock valued at $6,430,196. Company insiders own 17.14% of the company’s stock.

Zillow Group Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.